In the second half of 2012, Cyprus holds the Presidency of the Council of the European Union. For Cyprus, one of the smallest and newest members of the EU, presiding over the EU presents both a challenge and an opportunity. It will be a chance for Cyprus to make the image of the small island more pronounced and take appropriate steps towards a swift reunification. The challenge will be that on the one hand Cyprus will have to handle the critical economic situation in the EU. On the other pave the way for the next multi-annual financial framework and the EU’s long-term future. Praxoula Antoniadou Kyracou, former Minister of Trade, Industry and Tourism will discuss the priorities Cyprus does and should hold during its presidency.